Jagran correspondent, Jamshedpur. Stiching Friis Wind.nu (SFW), a non-profit organization based in the Netherlands, has accused Tata Steel of damaging the environment and has sought damages of 1.4 billion euros (about Rs 12,600 crore at today's rate). The company has completely rejected these allegations and called them without any evidence and imaginary.
Tata Steel has informed the stock market that this case has been filed against its Dutch subsidiaries (Tata Steel Netherlands and Tata Steel Imuiden). The NGO claims that it is fighting this battle on behalf of the people living around the Imuiden plant. According to the allegations, the hazardous substances released from the plant have adversely affected the health of the local people and property prices in the area have fallen.
Tata Steel has made it clear that they are fully prepared to face this legal challenge. According to the company, the NGO has not presented any concrete evidence to support its claims. The management says that Tata Steel Netherlands (TSN) is working under the Green Steel Plan.
In the last five years, huge investments have been made and excellent work has been done towards environmental protection and reducing carbon emissions. The company's performance is much better than European and global standards.
The suit has been filed under the Collective Claims Settlement Act of the Netherlands. According to Tata Steel, this process is quite lengthy. Currently, only the admissibility and merits of the case will be heard, which may take two to three years. The debate on the amount of compensation is far from over. The company believes that they have strong arguments to defend.
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